NEEPCO inks Euro 20 million loan pact for hydel plant

NEEPCO has inked a pact to secure a Euro 20 million loan from German Bank KWF under the Indo-German Bilateral Development Cooperation for the completion of the Pare Hydro Electric Plant in Arunachal Pradesh.

The loan agreement was signed by North Eastern Electric Power Corporation Limited (NEEPCO) chairman and managing director A G West Kharkongor and KFW director Christoph Kessler.

Kharkongor said the Euro 80 million loan had been fully drawn and utilised for the power plant and the additional amount was required to ensure its completion.

The new loan from KFW is a top-up of the 2008 agreement with Germany in which NEEPCO secured Euro 80 million loan. According to the CMD, the construction is at an advanced stage and the project is likely to be commissioned in March next year.

Image Credit : images.financialexpress.com

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